Bitcoin Left Behind as US Stocks Soar to Record Highs

Consumer confidence is at its weakest level in over a decade, yet US stocks are hitting record highs. The anomaly is partly due to the AI trade, which has drawn fresh capital and kept equities on an upward trajectory.

According to Glassnode, bitcoin has been left out of this rotation, trading near half its October 2025 peak while US stocks continue to climb. This is a stark contrast to historical trends, where consumers lose faith in traditional finance systems and turn to digital assets like bitcoin.

The AI trade has attracted significant attention from individual traders, hedge funds, and even crypto-native institutions. These entities are shifting their exposure towards AI-focused equities and tokens, leaving bitcoin behind.